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New Mexico State University’s Arrowhead Center has added a new partner to the center’s technology incubator. Accion is an award-winning, nonprofit organization that provides financial resources and training for self-employed entrepreneurs and small companies.
Garrey Carruthers, dean of the NMSU College of Business and vice president for economic development, said Accion is a proven and reputable organization that has spurred positive economic growth in the state for the past 18 years.
“Accion’s residency at the center’s incubator will give residents from Doña Ana County and regional communities an opportunity to receive assistance from a nationally recognized organization. They have assisted thousands of people and provided the necessary resources, such as financing, training, networking, leadership development and marketing opportunities, to become successful businesses owners,” Carruthers said.
Lynn Trojahn, vice president of advancement for Accion, said the center’s technology incubator is a critical link between researchers and entrepreneurs. She said the partnership with Arrowhead Center will allow Accion to continue building southern New Mexico’s economy one small business at a time.
“The fuel that powers our small-business development engine at Accion is our network of partners,” Trojahn said. “We could not do what we do without local partners who ensure we deliver our lending and support services in the places they are most needed.”
Accion was founded in Albuquerque in 1994 and has provided funding to more than 2,900 small businesses in 173 communities across New Mexico. The nonprofit organization expanded its services into Arizona and Colorado in 2008.
Overall, Accion has financed 3,677 start-up or emerging businesses and issued 5,791 loans totaling more than $39.6 million. The company accomplished this through partnerships with local banks and organizations.
